First Trust Bloomberg R&D Leaders ETF (NYSEARCA:RND) Sees Significant Increase in Short Interest

First Trust Bloomberg R&D Leaders ETF (NYSEARCA:RND) was the recipient of a large growth in short interest during the month of July. As of July 15th, there was short interest totaling 21,625 shares, a growth of 758.1% from the June 30th total of 2,520 shares. Based on an average trading volume of 1,359 shares, the days-to-cover ratio is presently 15.9 days. Currently, 8.6% of the company’s stock are sold short.

Hedge Funds Weigh In On First Trust Bloomberg R&D Leaders ETF

Large investors have recently modified their holdings of the stock. Jane Street Group LLC acquired a new position in First Trust Bloomberg R&D Leaders ETF in the fourth quarter worth about $627,000. IFP Advisors Inc increased its holdings in First Trust Bloomberg R&D Leaders ETF by 42.9% in the fourth quarter. IFP Advisors Inc now owns 6,528 shares of the company’s stock valued at $198,000 after buying an additional 1,960 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in First Trust Bloomberg R&D Leaders ETF in the fourth quarter valued at about $140,000.

First Trust Bloomberg R&D Leaders ETF Price Performance

Shares of RND stock opened at $30.89 on Friday. The firm has a market cap of $7.72 million, a P/E ratio of 34.30 and a beta of 1.24. First Trust Bloomberg R&D Leaders ETF has a 1-year low of $26.25 and a 1-year high of $32.68. The firm has a fifty day moving average of $31.68 and a two-hundred day moving average of $30.25.

First Trust Bloomberg R&D Leaders ETF Company Profile

The First Trust Bloomberg R&D Leaders ETF (RND) is an exchange-traded fund that is based on the Bloomberg R&D Leaders Select TR index. The fund tracks a market cap-weighted index of 30-50 US stocks with substantial expenditures dedicated to research and development. RND was launched on Apr 30, 2024 and is issued by First Trust.